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...The IEA predicts oil demand will grow by 1.2mn b/d, about half the pace of 2023, while Opec believes demand growth will be higher at 2.2mn b/d....
...The move, which comes after the meeting was delayed from Sunday as Saudi Arabia pushed members to make additional production cuts, boosted Brent crude above $84 a barrel — up about 1.4 per cent on the day...
...US production rose by roughly 1.5mn b/d to a record 13.5mn b/d in 2023 while that of Iran increased to an average of roughly 3.9mn b/d from about 3mn b/d a year earlier, said Claudio Galimberti, North America...
...That sluggishness is more striking when you consider that the Brent price, adjusted for inflation, has not budged since 2005....
...Little-read and under-published, he’d be broke were it not for his day job as a professor of English literature, and he riles at sightings of his books in the black sections of bookstores....
...“They have 3mn b/d of spare capacity now so what is the rush of increasing production capacity to 13mn b/d.”...
...Despite continuing uncertainty over the Red Sea, one of the world’s key oil routes, prices were broadly steady on Thursday, with benchmark Brent crude up 0.5 per cent on the day at $78.31 a barrel....
...If you want to read something else like a Percival Everett novel, it’ll just have to be another Percival Everett novel — which isn’t a problem, as there are 23 of them....
...cut by 211,000 b/d and 135,000 b/d respectively....
...Western powers are protecting the Gulf with such assets as the US aircraft carrier Dwight D. Eisenhower....
...and 360,000 b/d in 2025....
...Brent crude, the international benchmark, settled up 1.2 per cent at $90.04 on Tuesday, breaking $90 a barrel for the first time since November....
...Brent crude, the international benchmark, gained 0.2 per cent to trade at $90.21 a barrel, while US equivalent West Texas Intermediate rose by the same margin to $86.91....
...This “lollipop” was on top of the group’s wider production cuts, meaning the kingdom’s production went down to 9mn barrels a day — significantly below its maximum capacity of about 12mn b/d....
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...Brent crude, the global benchmark, was trading at $83.77 on Thursday afternoon in London, up about 0.7 per cent on the day....
...Brent crude is trading a little lower than a year ago while European gas prices are down nearly 70 per cent....
...Brent crude, the international benchmark, was trading at $87 a barrel on Friday, up 10 per cent over the past month, with some analysts predicting a return to $100 a barrel oil this year....
...Brent crude, the international benchmark, climbed 0.5 per cent to $78.04 while US marker West Texas Intermediate rose 0.5 per cent to $73.38....
...Brent crude, the global benchmark, rose almost 2 per cent after the announcements to $84.75 per barrel on Thursday afternoon....
...Brent crude, the international benchmark, added 0.2 per cent to trade at $74.83 per barrel, while US marker West Texas Intermediate rose 0.3 per cent to $70.01....
...Iran exported 1.5mn b/d of crude to China in August, the most in a decade, according to ship tracking data provided by Kpler....
...Brent crude, the international oil benchmark, rose 1.4 per cent on Wednesday to breach $80 per barrel, taking gains to over 9 per cent in just nine days, while the reference European gas price rose as high...
...Current global oil demand is about 102mn b/d....
...Brent crude, the global benchmark, added 5.7 per cent to settle at $90.89 a barrel on Friday, a price last reached before Hamas attacked Israel almost a week ago....
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